The Board of Governors of the Arab Fund for Economic and Social Development has held its fourth annual meeting in Kuwait.
SV Fund President Jaroudi addresses meeting
GV PAN Delegates listen (2 shots)
SV Jaroudi continues speaking
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Background: The Board of Governors of the Arab Fund for Economic and Social Development has held its fourth annual meeting in Kuwait. Twenty countries sent representatives.
The two-day meeting, which opened on Tuesday (15 April), reviewed the Fund's policy and discussed 15 projects which the Fund will assist this year.
The Fund was established in 1972 to re-cycle Arab oil wealth within the Arab world and use it for schemes ranging from heavy industry to education.
The Fund's President, Dr. Saeb Jaroudi, opened the meeting. In his annual address he explained how Arab countries were using and controlling resources other than oil. Speaking about the Fund's role in the Arab world, Dr. Jaroudi said the projects selected for aid this year had been chosen after careful selection by the Fund's special unit set up for this purpose.